1. Defendant A shall be punished by imprisonment for two years.

Seized evidence 1 through 9 shall be confiscated from the accused.

2.

Punishment of the crime

1. Defendant A, the actual founder and operator of I Co., Ltd. (hereinafter referred to as the “instant company”), which is a similar recipient company H and 2, at the time when the Defendants committed the crime of receiving similar shares, and Defendant B (Additional Center head), Defendant C (Additional Center head), Defendant C (Additional Center head), J (Additional Center head), and K (J head of the Central Center) who has the office of the said company, agreed to pay 140% of the principal amount of investment (4 months) or 200% of the total amount of investment without obtaining authorization and permission or making registration under Acts and subordinate statutes, to acquire real estate at low price, acquire such real estate at low price, and obtain compensation from many and unspecified persons, and then obtain compensation for investment and sale at high price, and then obtain compensation for the remaining investment and sale of the said real estate at a public offering in order from the said investors, and then obtain compensation for the investment and sale of the said real estate at low price, and then obtain compensation from the rest of the investment and sale of the said investment.

Accordingly, from October 16, 2015 to June 22, 2016, Defendants, J, and K have purchased non-performing loans related to real estate at a low price and have acquired such real estate at a high price and have them resold at a high price.

When investing in money in this project, 140% including the principal within four months shall be paid.

On the other hand, if a person with no money makes an investment of KRW 1,300,000 corresponding to one code, he/she shall pay dividends of KRW 14,00 per day except Saturdays and Sundays for seven months and shall include 200% of the principal within seven months.